Nu Skin plans to rejuvenate Asean markets

Nu Skin plans to rejuvenate Asean markets

Myanmar first in line for expansion in region

Nu Skin Enterprises (Thailand) is eyeing expansion in Myanmar and other neighbouring countries to channel purchasing power after the Asean Economic Community begins in late 2015.

Mrs Pakapun wants Thailand to reach the top five in its global network.

Pakapun Leevutinun, president of Nu Skin Thailand and Vietnam, said the local arm would help with human resources, IT and company registration if the US parent company decides to set up a venture in Myanmar.

Expansion in Myanmar is under consideration after Nu Skin's direct sales operation in Vietnam saw sales reach 13 million baht last year. Nu Skin Thailand oversees the Vietnamese operation.

"Based on a Nu Skin survey, we found more room to grow our direct sales business in Myanmar," Mrs Pakapun said.

"Direct sales is still quite new in Myanmar, and there are a few direct sales companies providing products and services there. More importantly, some customer groups have high purchasing power."

After Myanmar, Nu Skin will consider expanding to Laos and Cambodia.

Mrs Pakapun said the company would continue expanding Nu Skin business domestically after healthy sales growth in the first half of the year.

Nu Skin felt a slight impact from the political unrest in 2013, but the situation gradually improved in recent months.

The company launched many proactive marketing strategies, posting first-half sales growth of 25% to outpace the industry's flat showing.

The launch of more Nu Skin expos in Bangkok and upcountry is aimed at attracting more potential business members and sales distributors.

The number of Nu Skin distributors rose by 36% in the first half as new membership increased by 72%.

"Nu Skin has applied its networking system in Indonesia, the Philippines and even China," Mrs Pakapun said. "Nu Skin in Malaysia and Singapore is going to implement this strategy soon."

Nu Skin Thailand ranks seventh among the group's 53 countries and territories, up from 19th a decade ago.

"We aim to see Nu Skin Thailand become one of the top five operations in the global network along with South Korea, Japan, the US and China," she said.

"People continue to spend their money on anti-ageing products, vitamins and food supplements to prevent them from getting old and keeping them looking good all the time."

Full-year sales are forecast to rise by 25% to 2.4 billion baht, driven by Nu Skin AgeLoc Tr 90, a new weight management and body-shaping product to be introduced in October.

In addition to the new products, Nu Skin Thailand will spend 10 million baht to open a Nu Skin centre in Nakhon Pathom province.

"We have seen a huge change in the purchasing power of people upcountry, and another surprise is to see many first-jobbers choosing Nu Skin for their career," Mrs Pakapun said.

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